A survey conducted at the recent Institute of Internal Auditors annual conference by Protiviti has revealed that ⅔ of IA profes­sionals believe their department is under-resourced and therefore unable to adequately carry out their duties.

Protiviti’s take is that due to increased expec­ta­tions of the assurance Internal Audit can provide on an ever-widening spectrum of enter­prise risks, auditors feel under-resourced. Sukhdev Bal, Director of Protiviti says:

This survey is a clear indication that internal auditors themselves believe that prior to the recession, they were not fit for purpose in terms of focus, skills and capabil­ities. Audit committees, Internal Audit leaders and management need to work more closely and collec­tively to agree the role of audit, objec­tives, criteria for audit and the overall approach of the internal audit function required to meet current and future evolving needs. Impor­tantly, having agreed these, they need to ensure that the function is staffed with the right skills, capabil­ities and experience to meet these objectives.

There is evidence that spending on gover­nance, risk and compliance didn’t decrease in 2009 compared to 2008, so I think Protiviti is correct with its assessment. IA is being asked to expand their risk coverage beyond tradi­tional areas of expertise. It’s only natural to feel a little overwhelmed by the expec­ta­tions. The key to adapting in my opinion (and experience) will be support for training in non-traditional areas.

The survey is available on Protiviti’s website (if you give them some personal infor­mation first).